The Benefits of Knowledge Capturing and Knowledge Management

04

November 2021

Eventus

Effective knowledge capture is the first step to leveraging the tacit knowledge retained by your employees, partners, and customers to improve your organization. Still, it’s only the first step. As they say, knowledge is power, but what is knowledge without appropriate management to ensure its dissemination to the people who can best act upon it?

With a solid knowledge management framework, and proven knowledge capture strategies, many organizations find that they can boost efficiency, lower costs, and strengthen overall customer satisfaction.

What is knowledge capture?

Knowledge capture is the process of taking the information that resides within an individual’s mind, organization, or otherwise inaccessible form to a broader audience and storing it in a place where it can be accessed by others. This might include the capture of intuitively gained experience, such as leadership skills, as well as implicit knowledge, such technical know-how that has not yet been documented.

In the context of a company, this might mean documenting the expertise expressed by experts in a specific area, as well as their consultants and other partners so that this expertise might inform future work.

Capturing this expertise, however, should only be the first step. Knowledge management is the broader system by which information is captured, retrieved, analyzed, and managed. It is through effective knowledge management that organizations gain the full advantage of their employees’ and partners’ expertise.

In the corporate context, there are two specific audiences for this captured knowledge. Internal knowledge capture is useful for boosting efficiency with an organization. When top talent leaves, effective knowledge management strategies will help inform a replacement to strengthen the transition. When a consultant steps off a project, a new partner can more seamlessly step in with the benefit of this captured knowledge. On the other hand, external knowledge capture can also help customers more quickly reach the answers they need, boosting their satisfaction with your processes.

 

Ways to share knowledge captured for internal use

Whether for orientations, furthered learning of employees or succession planning, internal knowledge capture can be extremely valuable if shared in such a way that the appropriate organizational audience can easily locate and consume the information captured.

While knowledge capture is often as simple as an employee handbook or other manual, a few strategies that make use of digital efficiencies include:

  • Intranet databases: Databases created and accessed via an organization’s intranet are an easy place to store and access relevant employee information. This can be particularly useful when capturing knowledge from retiring staff members and ensuring their critical knowledge stays within the organization.
  • Internal forum: Forums and Wikis are great tools for compiling knowledge of processes in specific areas of the company in a way that allows for peer review, editing and contributions. If utilized correctly and monitored frequently, forums and wikis can prove to be invaluable tools for ongoing knowledge sharing.
  • Customer relationship management software: While capturing external data, CRM tools are used to help internal team members meet customers’ expectations, even in the event of changes in who is nurturing these relationships.

Strategies for sharing knowledge capture for external audiences

Knowledge capture and knowledge management also have uses outside the walls of an organization. Capturing key concepts and insight of an organization within self-service resources online can empower customers to find solutions to their problems without ever having to contact a service agent. When done right, knowledge capture and management is a powerful strategy for boosting the effectiveness and efficiency of the customer service process. Strategies range from the simple to the more complex, including:

  • FAQ: Organizing and sharing frequently asked questions can be done through simple knowledge capture practices, including recording phone calls and chats or searching your website analytics for frequently searched terms. By addressing the most basic questions asked by customers through compiled resources, your contact center agents can better focus their time and efforts on more pressing calls.
  • Self-service portals: Much like a FAQ, self-service portals guide a customer through a personalized list of options, suggestions and solutions in much the same way a contact center agent might work a customer through a pre-determined flow or process chart. Providing self-service options enables customers to resolve more minor issues on their own time, creating a more customized and effective solution while lowering contact center costs.
  • How-to videos: Research indicates that visual communication supports knowledge retention, making video an excellent strategy for sharing critical information. Video content should be a key part of every company’s marketing strategy, so why not create content that shares your best practices, product or service insight that addresses those frequently asked questions?

Structure your knowledge management

There are more tools than ever for effective knowledge capture, but it’s how you use this information that can really set an organization apart. Take time to identify how the knowledge you capture can be used and find the right audiences for this information. It’s also important to establish processes for reviewing and updating information on a regular basis to prevent gaps in your knowledge capture.

With a strategic knowledge capture and knowledge management program in place, organizations can improve the customer experience, boost customer retention, and increase profitability.

To learn how you can reap the benefits of effective knowledge capture and management, contact Eventus.

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